Mesoblast (NASDAQ:MESO) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of Mesoblast (NASDAQ:MESO) from a buy rating to a hold rating in a report released on Wednesday morning, Zacks.com reports.

According to Zacks, “Mesoblast Limited is a global leader in developing innovative cell-based medicines. The Company has leveraged its proprietary technology platform, which is based on specialized cells known as mesenchymal lineage adult stem cells, to establish a broad portfolio of late-stage product candidates. Mesoblast’s allogeneic, ‘off-the-shelf’ cell product candidates target advanced stages of diseases with high, unmet medical needs including cardiovascular conditions, orthopedic disorders, immunologic and inflammatory disorders and oncologic/hematologic conditions. “

Several other equities analysts also recently commented on MESO. Oppenheimer set a $10.00 price objective on Mesoblast and gave the company a buy rating in a research report on Tuesday, September 10th. Maxim Group reiterated a buy rating and issued a $16.00 target price on shares of Mesoblast in a research report on Thursday, September 12th. Cantor Fitzgerald set a $23.00 target price on Mesoblast and gave the stock a buy rating in a research report on Tuesday, September 10th. HC Wainwright set a $7.00 target price on Mesoblast and gave the stock a buy rating in a research report on Friday, August 30th. Finally, Chardan Capital set a $6.00 target price on Mesoblast and gave the stock a hold rating in a research report on Friday, August 30th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Mesoblast has an average rating of Buy and an average target price of $11.67.

Shares of Mesoblast stock opened at $6.82 on Wednesday. The stock’s 50-day simple moving average is $5.36 and its 200-day simple moving average is $5.20. Mesoblast has a 52 week low of $3.35 and a 52 week high of $8.78. The company has a market capitalization of $708.08 million, a price-to-earnings ratio of -7.49 and a beta of 1.77. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.14.

Mesoblast (NASDAQ:MESO) last announced its quarterly earnings data on Thursday, August 29th. The company reported ($0.21) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.23) by $0.02. Mesoblast had a negative return on equity of 17.66% and a negative net margin of 536.97%. The business had revenue of $1.97 million for the quarter, compared to the consensus estimate of $1.31 million. On average, equities analysts expect that Mesoblast will post -0.72 earnings per share for the current year.

An institutional investor recently raised its position in Mesoblast stock. Morgan Stanley increased its position in Mesoblast limited (NASDAQ:MESO) by 284.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 147,702 shares of the company’s stock after buying an additional 109,295 shares during the period. Morgan Stanley owned 0.16% of Mesoblast worth $784,000 at the end of the most recent quarter. Institutional investors own 2.76% of the company’s stock.

Mesoblast Company Profile

Mesoblast Limited, a biopharmaceutical company, develops and commercializes allogeneic cellular medicines. Its proprietary regenerative medicine technology platform is based on specialized cells known as mesenchymal lineage adult stem cells. The company's products under the Phase III clinical trials include MSC-100-IV for steroid refractory acute graft versus host disease; MPC-150-IM for advanced heart failure; and MPC-06-ID for chronic low back pain due to degenerative disc disease.

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